Shoppers leave the Younkers store in the Rapids Mall Tuesday May 7, 2013. Company officials say the store will be closing at the end of July, displacing about 45 employees.

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Younkers announced Tuesday it will close its Wisconsin Rapids store when its lease expires at the end of July, and officials at Rapids Mall, 555 W. Grand Ave., already are seeking new businesses to move into the space.

The department store's parent company, The Bon-Ton Stores Inc., which has dual corporate headquarters in Milwaukee and York, Pa., made the formal announcement Tuesday evening after a day of rumors swirled among fellow mall tenants and customers.

"While it's unfortunate that Younkers will be leaving after 35 years with us, we see this as an opportunity to bring in a new business ...